India gold demand shows mixed signals ahead of Akshaya Tritiya festival on April 19. While retail buyers have begun festival bookings, footfalls remain significantly lower than historical norms as elevated prices dampen consumer sentiment. Domestic gold prices in India traded around 152,800 rupees per 10 grams this week after reaching three-week highs of 154,934 rupees. Jewellers report negligible purchasing activity despite the major festival approaching, with dealers noting the atmosphere suggests weak seasonal demand. Meanwhile, China's gold premiums narrowed sharply to $3-$5 per ounce from $12-$17 last week, reflecting softer retail demand. However, China's central bank continued its 17-month streak of gold purchases, supporting overall market sentiment despite weak jewellery demand down 25% year-on-year. International spot prices gained on U.S.-Iran ceasefire optimism.
